Tuesday, March 15, 2011

Roubini : Japan needs to significantly depreciate the Yen

In an interview today with CNBC Dr Nouriel Roubini talked about the Japan quake and its impact on the global economy , the future for the Yen and the Japaneses economy in general and its impact globally "Japan is going to need significant depreciation of the yen to increase its net exports because domestic demand is going to be anemic for a while. Therefore on a fundamental basis, the yen is going to be much weaker rather than stronger because you need improvement of external balance given the shock to the domestic economy," Nouriel Roubini told CNBC

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